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Reichhold Holdings US Plan Effective

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Reichhold Holdings US’ Second Amended Chapter 11 Plan of Liquidation became effective, and the Company emerged from Chapter 11 protection.

The U.S. Bankruptcy Court confirmed the Plan on January 13, 2016. As previously reported, the Plan provides for the following creditor treatment: Secured claimholders will receive payment in full in cash or collateral securing the claim; general unsecured claimants holding uninsured claims will receive a share of the liquidating trust interests and convenience claim holders will receive cash equal to 5% of their claim.

This privately-held synthetic materials’ provider filed for Chapter 11 protection on September 30, 2014, listing $538 million in pre-petition assets. Read more bankruptcy news.

The post Reichhold Holdings US Plan Effective appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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